AI Reports · Deloitte · 2026-10-16 · Report / white paper
Transformative AI and the implications for Tax and Legal
The current discussion of AI describes the potential for global change comparable to steam power or the printing press, but at a much faster pace. Hyperscalers have committed over $700 billion in capital expenditures for AI infrastructure in 2026 alone. The excerpt cites Demis Hassabis saying human-level AI could be as little as four years away, and Sam Altman telling TIME in August 2026 that OpenAI would have an internal system he would call AGI by year-end.